UPDATE 1-Fiat to redeem early $1.69bln GM-exchangeable bond

Newswire

(Adds background) MILAN, June 25 (Reuters) - Italian carmaker Fiat said on Friday it would redeem ahead of schedule almost $1.69 billion worth of outstanding bonds exchangeable into shares in the U.S. automaker General Motors . Fiat said it would make the payment in cash on July 9, using available liquidity, after almost all bondholders requested early redemption. In April, Fiat bought back and canceled $540 million worth of the bonds coming due in January, 2007. Fiat sold the $2.2 ...

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